Hudbay Minerals (TSE:HBM) Shares Cross Above 200 Day Moving Average – Here’s Why

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$11.78 and traded as high as C$12.90. Hudbay Minerals shares last traded at C$12.60, with a volume of 693,991 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on HBM. Stifel Nicolaus upped their price objective on Hudbay Minerals from C$15.00 to C$16.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Eight Capital raised their price target on Hudbay Minerals from C$14.50 to C$18.00 in a report on Thursday, July 11th. Jefferies Financial Group lifted their price objective on Hudbay Minerals from C$14.00 to C$15.00 in a research report on Friday, October 4th. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. Finally, National Bankshares lifted their price target on shares of Hudbay Minerals from C$15.50 to C$16.75 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Twelve equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$15.54.

Hudbay Minerals Trading Down 0.3 %

The company’s fifty day simple moving average is C$11.66 and its two-hundred day simple moving average is C$11.78. The company has a market capitalization of C$4.96 billion, a price-to-earnings ratio of 34.05, a price-to-earnings-growth ratio of 3.97 and a beta of 1.83. The company has a quick ratio of 0.85, a current ratio of 1.87 and a debt-to-equity ratio of 49.37.

Hudbay Minerals Announces Dividend

The firm also recently disclosed a 1 dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, September 20th were paid a dividend of $0.02 per share. This represents a yield of 0.09%. The ex-dividend date of this dividend was Friday, September 20th. Hudbay Minerals’s payout ratio is presently 5.41%.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.